Company Overview

One of the most prominent financial institutions in India is the State Bank of India (SBI). In 1921, the Bank of Bengal merged with the Bank of Bombay and the Bank of Madras to become the Imperial Bank of India. After being nationalised in 1955, the State Bank of India was renamed.

SBI is headquartered in Mumbai, Maharashtra and has numerous branches and ATMs throughout India, as well as a significant international presence through subsidiaries and branches worldwide.

About Company

The State Bank of India is an Indian financial services and banking company. Its segments include Treasury, Wholesale/Corporate Banking, Retail Banking, and Insurance. The entire investment portfolio and foreign exchange contracts and derivatives are included in the Treasury Segment.

Corporate/Wholesale Banking includes corporate accounts, commercial client groups, and stressed assets. In retail banking, retail branches primarily provide personal banking services, including lending services to corporate clients and automated teller machines (ATMs).

The Insurance Business segment includes SBI Life Insurance Co. Ltd. and SBI General Insurance Co. Ltd. Individuals, commercial enterprises, large corporations, public bodies, and institutional customers are among its customers.

Company Establishment

As the largest commercial bank in India, the State Bank of India holds a special position in the modern commercial banking system. After the nationalisation of the Imperial Bank of India, it was established on July 1, 1955. By amalgamating the three Presidency Banks of Madras, Bombay, and Bengal, the Imperial Bank of India was formed in 1921.

The Imperial Bank of India served as a central bank with its usual commercial banking activities before the Reserve Bank of India was established in 1935. Formerly, it served as the clearing house, the banker of the government, and the banker's bank.

The Imperial Bank of India left its central banking functions after the establishment of the Reserve Bank of India but continued to act as the Reserve Bank's agent in areas without its branches. In 1955, the Rural Credit Survey Committee approved the nationalisation and renaming of the Imperial Bank of India into the State Bank of India.

Subsidiaries Of SBI

Some of the subsidiaries of SBI are listed below:

SBI Life Insurance Company Limited (SBI-Life)

In March 2001, the Insurance Regulatory and Development Authority of India (IRDAI) registered SBI Life Insurance as one of the most trusted life insurance companies in India. SBI Life offers protection, pension, savings, and health solutions to millions of families across India.

SBI General Insurance Company Limited (SBI General)

With its strong parentage, SBI General is one of the fastest-growing private general insurance companies in the world. The company has expanded its presence to over 137 branches throughout India since its establishment in 2009.

SBI Cards And Payment Services Limited (SBICPSL)

SBICPSL is India's largest pure-play credit card issuer, with 13.7 million active cards.

SBI Funds Management Limited (SBIFML)

The SBIFML joint venture was established by SBI and AMUNDI (France), one of the world's leading asset managers.

SBI Capital Markets Limited ( SBICAPS)

The SBICAP group is India's largest investment bank, offering a wide range of investment banking and corporate advisory services across three product groups: Project Advisory and Structured Finance, Equity Capital Markets, and Debt Capital Markets.

SBICAP Securities Ltd (SSL)

The retail broking arm of SBI Group is SSL, a wholly-owned subsidiary of SBI Capital Markets Ltd

SBICAP Ventures Limited (SVL)

An alternative investment arm of SBI, SVL is one of India's fastest-growing asset managers.

SBI SG Global Securities Services Private Limited (SBI-SG)

It is a joint venture between SBI and Société Générale (SG), with SBI owning 65%.

State Bank of India Share Price

The share price of the State Bank of India can vary depending on various factors. You can refer to the above financial chart for the State Bank of India Share Price NSE and BSE.

State Bank of India

SBIN Share Price